Wireless Audio Devices Market Size, Share, Opportunities, COVID-19 Impact, And Trend By Technology (Bluetooth, Wi-Fi, Airplay, Others), By Product (Headsets And Microphones, Soundbars, Speaker Systems, Others), By Application (Automotive, Consumer, Commercial, Others), And By Geography - Forecasts From 2022 To 2027

The wireless audio devices market is evaluated at US$27.837 billion in 2020 and is projected to grow at a CAGR of 16.96% reaching the market size of US$54.456 billion in 2027. Factors such as the rising adoption of portable devices and advancements in products, increasing online commerce for retail goods & services, rapid digitalization, and rapidly rising platforms for media and entertainment content are expected to drive the market growth during the forecast period. Moreover, the increasing requirement for mobility, growing expenditure on semiconductors for wireless devices, and innovation of innovative devices will further propel the overall market growth in the future as well. Additionally, advancements in the consumer electronics market across various countries and a growing population of middle-class population in countries like China, India, and Japan are the major driving force behind the market growth. Furthermore, the significant penetration of smartphones, laptops, and tablets has also facilitated the growth of wireless wearables. The government of various developing economies is launching various programs and policies to promote digitalization in their respective countries, which is further expected to increase the adoption of mobile devices. For instance, the government of India has launched programs like Digital India and many others to empower and support the development of digitalization in the country.

Based on the technology, the wireless audio devices market has been segmented into Bluetooth, Wi-Fi, airplay, and others. The Bluetooth segment holds the current major portion of the total market value and is projected to grow at a CAGR of XX% during the forecast period. The increased consumer preferences for Bluetooth connectivity and advancements in Bluetooth technology are major drivers in the future growth of the segment. According to the State of the Play Report 2019 by Qualcomm, a survey conducted on smartphone users revealed that 52% of the owners preferred to receive wireless Bluetooth headphones bundled with their next smartphone. USB connection and no preference polls were among the least favored choices. Further, the source also stated that 40% of the respondents said that bundled Bluetooth headphone offering with the smartphone would be the driving factor in choosing the smartphone as compared to other complementary offerings. This was the highest proportion as compared to other free offerings with smartphones like wired noise cancellation headphones (11%), USB charging cable (7%), music streaming service for 3 months (6%), and other preferences.

Surging demand for audio-based devices is boosting the overall market growth. One of the prime reasons supporting the growth of overall market growth is the surging demand for audio-based devices. Numerous audio solution providers are releasing new models and features in the wireless audio devices market at competitive prices in response to consumers' growing demand for audio-based devices. The proliferation of wireless audio devices is anticipated to be fueled by a high demand for WSNs (wireless sensor networks) across numerous industries. The adoption of smart home automation systems is predicted to increase demand for smart speakers, which may use voice assistants to monitor and manage connected devices. The market for wireless audio devices is anticipated to rise as a result of these causes. In recent years, there has been a surge in consumer demand for mobility services due to seamless connectivity and easy access to information and resources. Cloud services, the BYOD movement, mobile devices, wireless services, and other mobility solutions are becoming more and more popular with people. The enhanced features of wireless audio devices, such as portability, ease of management, and distant accessibility for audio communication, have expanded their uptake. Customers' experiences are improved by wireless operation, rapid and simple audio transmission, and simple installation of wireless audio equipment. The market for wireless audio devices is therefore anticipated to be driven by rising consumer demand for mobile services. For instance, Sony announced an all-new music experience called "360 Reality Audio" that makes listeners feel as if they are immersed in sound from all directions. The new technology is delivered by Sony’s object-based spatial audio technology and was announced at CES 2019 in Las Vegas.

COVID-19 Impact on the Wireless Audio Devices Market

The COVID-19 pandemic boosted sales of wireless audio devices in 2020. The robust outbreak of the virus and its exponential spread resulted in the implementation of numerous containment measures. Social distancing and physical lockdown were one of them, resulting in the closing of office spaces, schools, institutes, and other entities. To continue operations, these entities switched to virtual platforms. With the increase in digitalization, demand for hearable grew at an exponential rate, in order to ensure undisturbed individual work. Wireless hearables or audio devices, particularly, observed robust growth. Moreover, product launches and online sales of these audio devices enabled a boost in sales, which supported the market growth.

Wireless Audio Devices Market Scope:

Segmentation

• By Technology
  • Bluetooth
  • Wi-Fi
  • Airplay
  • Others
• By Product
  • Headsets and Microphones
  • Soundbars
  • Speaker System
  • Others
• By Application
  • Automotive
  • Consumer
  • Commercial
  • Others
• By Geography
  • North America
    • U.S
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • UK
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Others